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Gold Price Peels Lower Despite Soft US Dollar Ahead of the Fed. Lower XAU/USD?

Gold, XAU/USD, US CPI, FOMC, Fed, Treasury Yields, US Dollar, – Talking Points The gold price slid on the back of US CPI data lifting Treasury yields While the direction of CPI is improving, there might be more work to do Fed language later today will be scrutinised for hints on future rate . . . → Read More: Gold Price Peels Lower Despite Soft US Dollar Ahead of the Fed. Lower XAU/USD?

US Dollar Drips Lower Ahead of Key Fed Decision, Levels to Watch on DXY

US DOLLAR FORECAST: U.S. dollar, as measured by the DXY index, slides as traders await critical FOMC decision May U.S. inflation data has increased the probability of a Fed pause in the June meeting, but the tightening cycle may not yet be over Policymakers’ guidance and macroeconomic projections will help set the US . . . → Read More: US Dollar Drips Lower Ahead of Key Fed Decision, Levels to Watch on DXY

S&P 500 Forecast: Bulls Energized after US CPI. Will the Fed Play Spoiler?

S&P 500 OUTLOOK: The S&P 500 breaks out on the topside, reaching its best level since April 2022 following softer-than-expected U.S. inflation data May U.S. headline CPI clocks in at 4.0% y-o-y versus a market estimate of 4.1% y-o-y Softening price pressures may nudge the Fed to hold interest rates steady tomorrow

. . . → Read More: S&P 500 Forecast: Bulls Energized after US CPI. Will the Fed Play Spoiler?

Copper Rebound Gains Pace After the PBoC Lowered Chinese Borrowing Costs

Copper News and Analysis China lowers short-term lending rates to support economic recovery Industrial metals like copper benefitted from a lift in sentiment as prices rose FOMC remains the most impactful item on the economic calendar this week The analysis in this article makes use of chart patterns and key support and resistance . . . → Read More: Copper Rebound Gains Pace After the PBoC Lowered Chinese Borrowing Costs

US Inflation YoY Declines to 2-Year Lows but Core CPI Remains Sticky, DXY Edges Lower

US CPI KEY POINTS:

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US headline inflation YoY in May declined to 4% beating estimates around 4.1% . . . → Read More: US Inflation YoY Declines to 2-Year Lows but Core CPI Remains Sticky, DXY Edges Lower

US Dollar Bid Ahead of Inflation Data, USD/JPY Coils Inside Symmetrical Triangle

US DOLLAR FORECAST U.S. dollar gains ahead of a major U.S. inflation report on Tuesday CPI data may help guide the Fed’s policy outlook for 2023 This article looks at key USD/JPY’s technical levels to watch in the coming sessions

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S&P 500 Bull Market: What Does Historical Performance Suggests from Here?

S&P 500 Analysis S&P 500 enters into a technical recession despite tightening financial conditions Average S&P 500 performance after bull market confirmation suggests positive returns for longer time horizons Price action tests the August 2022 high ahead of US CPI and FOMC The analysis in this article makes use of chart patterns and key . . . → Read More: S&P 500 Bull Market: What Does Historical Performance Suggests from Here?

Gold Prices on Shaky Ground ahead of US Inflation Data and Key Fed Decision

GOLD PRICES FORECAST: Gold prices slide on Monday amid market anxiety ahead of high-impact events in the coming days The center of attention will be the U.S. inflation report and the Fed’s interest rate decision this week This article looks at key XAU/USD’s tech levels to watch in the near term

. . . → Read More: Gold Prices on Shaky Ground ahead of US Inflation Data and Key Fed Decision

Oil Continues its Post-OPEC+ Slide, Multi-Week Lows in Sight

Oil Prices, Charts, and Analysis

Oil slips as recession fears continue to grow. Oil price heads lower despite recent Saudi production cut.

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The recent Saudi oil production cut of one million barrels a day has . . . → Read More: Oil Continues its Post-OPEC+ Slide, Multi-Week Lows in Sight

GBP/USD Up, Below Recent Highs As Markets Look To Fed

GBP/USD Prices, Analysis, and Charts

• GBP/USD gained in European trade

• The week offers plentiful central bank policy decisions, with the Fed out front

• One BoE rate setter warned higher rates can’t be ruled out on Monday

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Markets Week Ahead: S&P 500, Gold, USD; Fed, ECB, BoJ, Germany ZEW, UK & Australia Jobs, US CPI, China Retail Sales

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Global equity markets rose to a 13-month high on improving sentiment following the recent suspension of the US debt ceiling, the resilience of the global economy, and hopes that US interest rates are peaking.

The . . . → Read More: Markets Week Ahead: S&P 500, Gold, USD; Fed, ECB, BoJ, Germany ZEW, UK & Australia Jobs, US CPI, China Retail Sales

Crude Oil Prices Look to US Data for Guidance as OPEC News Fades

CRUDE OIL ANALYSIS & TALKING POINTS Global economic growth and USD variables play tug of war with oil markets. US CPI and FOMC the focal points for the week ahead. Crude oil prices anticipate fundamental guidance.

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Gold Weekly Forecast: Gold (XAU/USD0 Prices Delicately Poised Heading into Blockbuster Week

GOLD PRICE, CHARTS AND ANALYSIS:

GOLD FORECAST: NEUTRAL

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READ MORE: Bank of Canada Comes Out Swinging with 25bps . . . → Read More: Gold Weekly Forecast: Gold (XAU/USD0 Prices Delicately Poised Heading into Blockbuster Week

British Pound Latest – GBP/USD and EUR/GBP Highlight Sterling’s Strength

GBP/USD Prices, Charts, and Analysis

Sterling bolstered by rate hike expectations. Key economic data and events next week will drive GBP/USD and EUR/GBP.

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The British Pound is closing a positive week on the front foot, . . . → Read More: British Pound Latest – GBP/USD and EUR/GBP Highlight Sterling’s Strength

Gold Price Latest – Support Continues to Build Ahead of a Pivotal Week

Gold Price (XAU/USD) Analysis, Price, and Chart Gold remains supported despite higher US Treasury yields. US inflation and the FOMC policy decision are next week’s main drivers.

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For all market-moving data releases and events, see . . . → Read More: Gold Price Latest – Support Continues to Build Ahead of a Pivotal Week

USD/CAD Price Outlook: USD/CAD Tests Major Support as USD Eases

USD/CAD News and Analysis US jobs indicator signals early signs of stress, CAD rides positive momentum after BoC hike Bearish momentum accelerates as CAD continues positive momentum – ‘death cross’ and major support will be tested Week ahead: FOMC (summary of economic projections) , ECB, US inflation The analysis in this article makes . . . → Read More: USD/CAD Price Outlook: USD/CAD Tests Major Support as USD Eases

USD/JPY Price Forecast: Yen Slides as BoJ Sees Little Need to Tweak YCC in June

USD/JPY PRICES, CHARTS AND ANALYSIS:

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Most Read: Japanese Yen Price Action Setups: EUR/JPY, USD/JPY, AUD/JPY

The Yen faced selling pressure following the European open this morning as reports circulated that the Bank of Japan (BoJ) still . . . → Read More: USD/JPY Price Forecast: Yen Slides as BoJ Sees Little Need to Tweak YCC in June

Outlook on FTSE 100, DAX 40 and S&P 500 Ahead of Next Week’s Central Bank Meetings.

Article written by IG Senior Market Analyst Axel Rudolph

FTSE 100, DAX 40 and S&P 500 Analysis, Prices, and Charts

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. . . → Read More: Outlook on FTSE 100, DAX 40 and S&P 500 Ahead of Next Week’s Central Bank Meetings.

USD Price Forecast: DXY Holds its Breath Ahead of Big Data Week

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New Zealand Dollar Boosted by Low Volatility; What’s Next for NZD/USD, AUD/NZD, EUR/NZD?

New Zealand Dollar Vs US Dollar, Australian Dollar, Euro – Outlook: NZD/USD has been supported by an improvement in risk appetite recently. EUR/NZD rally looks tired. Does the AUD/NZD rally have legs from a medium-term perspective?

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Asia Day Ahead: Wall Street Up Overnight; Sentiment in Extreme-Greed Territory

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The softer US economic calendar overnight prompted market participants to source for clues on the Fed’s policy path from the US weekly jobless claims, which reflected a pull-ahead in initial claims reading to its highest since October . . . → Read More: Asia Day Ahead: Wall Street Up Overnight; Sentiment in Extreme-Greed Territory

Crude Oil Price Bounces Around but is Unable to Break the Range. Where to for WTI?

Crude Oil, OPEC+, WTI, US Dollar, IRAN – US DEAL, China – Talking Points Crude oil saw notable intraday volatility but ended near where it started overnight A deal between the US and Iran could see more production to compensate for OPEC+ cuts The US and Chinese economies might hold the key for . . . → Read More: Crude Oil Price Bounces Around but is Unable to Break the Range. Where to for WTI?

Gold Rallies as US Dollar Sinks on Jobless Claims Surge, XAU/USD Eyes Bullish Engulfing

Gold, XAU/USD, US Dollar, Jobless Claims, Technical Analysis – Asia-Pacific Briefing: Gold prices rallied on Thursday as the US Dollar weakened Unexpected rise in US jobless claims dented Treasury yields XAU/USD Bullish Engulfing in focus as prices test support

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Canadian Dollar Outlook: USD/CAD at Risk on Hawkish BoC but Fed May Be a Spoiler

USD/CAD TECHNICAL OUTLOOK: The Canadian dollar has strengthened significantly against the U.S. dollar since late May Bank of Canada’s hawkish stance may reinforce recent FX dynamics USD/CAD may head lower if the Fed sticks to the script and doesn’t surprise markets

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Silver Prices Draw Support from USD Weakness and Falling Yields, US CPI Eyed

SILVER PRICES FORECAST: Silver prices rally more than 3.5% after a subdued performance in the previous trading session The precious metal’s gains can be attributed to U.S. dollar weakness and falling Treasury yields This article looks at key XAG/USD’s technical levels worth watching in the coming days

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USD/JPY Price Forecast: Yen Bid on Japanese GDP & US Jobless Claims

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US Dollar Update: Key Data and Events Next Week Will Steer the Greenback

US Dollar (DXY) Price, Chart, and Analysis FOMC rate decision is key for the dollar. US Treasury yields remain elevated as supply looms.

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The US dollar is stuck in a short-term sideways pattern with the . . . → Read More: US Dollar Update: Key Data and Events Next Week Will Steer the Greenback

EU Enters Recession: EUR/USD, EUR/GBP and EUR/JPY Price Setups

Euro Setups: (EUR/USD, EUR/GBP, EUR/JPY) Revised data confirms technical recession in Europe provided there are no upward revisions to the Q1 figure EUR/USD: Sharp sell-off meets shorter-term support EUR/GBP: Prior pivot points guide bearish continuation/bullish pullback scenarios EUR/JPY: Bounces off support with year-to-date high in sight The analysis in this article makes use of . . . → Read More: EU Enters Recession: EUR/USD, EUR/GBP and EUR/JPY Price Setups

Gold Prices at Risk of Freefall Below the 100-Day MA

GOLD (XAU/USD) PRICE FORECAST:

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READ MORE: Bank of Canada Comes Out Swinging with 25bps Hike, USD/CAD Slides

Gold prices fell around $30 from its high during yesterday’s US session as a surprise hike by the Bank . . . → Read More: Gold Prices at Risk of Freefall Below the 100-Day MA

Dow and CAC40 Move up, but Nasdaq 100 Struggles

Article written by IG Chief Market Analyst Chris Beauchamp

Dow Jones, Nasdaq 100, CAC40 Analysis and Charts

???Dow makes headway in early trading

?The price has managed to rise over the past two days, moving back above the 50-day SMA, bolstered in part by a recovery in oil stocks.

?Gains faltered in early . . . → Read More: Dow and CAC40 Move up, but Nasdaq 100 Struggles

Crude Oil Outlook Muddied by Interference and Low Vol. Where to for WTI?

Crude Oil, OPEC+, WTI, US Dollar, VIX, RBOB, OVX Index – Talking Points Crude oil appears rudderless going into the Thursday session The OPEC+ lollipop has been devoured by markets as it settles in the range The underlying structure of the market seems to reaffirm a range trade for now

. . . → Read More: Crude Oil Outlook Muddied by Interference and Low Vol. Where to for WTI?

Dow Jones Gains, Nasdaq 100 Sinks as Major Bond Yields Soar Amid Surprise Rate Hikes

Dow Jones, Nasdaq 100, Bond Yields, Technical Analysis – Asia-Pacific Briefing: Dow Jones gains as Nasdaq 100 sinks amid rising bond yields This follows unexpected rate hikes from the RBA and the BoC Sentiment may turn pessimistic during Thursday Asia trade

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Gold and Silver Prices in Peril as Yields Surge, Technical Setup on XAU/USD

GOLD AND SILVER FORECAST: Gold and silver prices slide as U.S. yields surge across the Treasury curve Non-yielding precious metals tend to perform poorly when higher nominal rates boost returns on competing assets, such as government bonds This article looks at key XAU/USD’s levels to watch in the coming trading sessions

. . . → Read More: Gold and Silver Prices in Peril as Yields Surge, Technical Setup on XAU/USD

USD Wobbles but Outlook Brightens, EUR/USD & USD/JPY Embark on Divergent Trends

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US DOLLAR ANALYSIS

The U.S. dollar, as measured by the DXY index, was modestly lower on Wednesday, down about 0.05% to 104.06, despite rising U.S. Treasury yields. Bond rates moved sharply higher across the curve . . . → Read More: USD Wobbles but Outlook Brightens, EUR/USD & USD/JPY Embark on Divergent Trends

Bank of Canada Comes Out Swinging with 25bps Hike, USD/CAD Slides

BoC RATE DECISION KEY POINTS: 25bps Hike by the Bank of Canada as Excess Demand Looks More Persistent Than Anticipated. Underlying Inflation Remains a Concern as Evidenced by the Data in April. BoC Statement Did Remove the Language About How the Central Bank is Prepared to Raise Rates Further if Needed. To Learn . . . → Read More: Bank of Canada Comes Out Swinging with 25bps Hike, USD/CAD Slides

Crude Oil Price Skittled as Market Swallows OPEC+ Cuts. Is WTI Rangebound?

Crude Oil, OPEC+, WTI, US Dollar, Saudi Arabia, API, EIA, Bollinger Bands – Talking Points Crude oil leapt on OPEC+ cuts with a volatility blowout It soon retreated and has settled back inside the range Inventory data appears to be holding centre stage for now. Will it lift WTI?

. . . → Read More: Crude Oil Price Skittled as Market Swallows OPEC+ Cuts. Is WTI Rangebound?

Gold Price Forecast: Channel Support Holds for Now but Bearish Risks Still Present

GOLD PRICES OUTLOOK: Gold prices extend their rebound after encountering support at the lower limit of a medium-term ascending channel Gold’s technical profile remains constructive, but the fundamental outlook is becoming less benign This article looks at XAU/USD’s key levels to watch in the coming trading sessions

Recommended by Diego Colman . . . → Read More: Gold Price Forecast: Channel Support Holds for Now but Bearish Risks Still Present

The Bank of Canada: A Trader’s Guide

The Bank of Canada is the central bank of Canada, responsible for overseeing the country’s monetary policy and promoting the economic and financial welfare of Canadians. Here is a brief history and mandate of the Bank of Canada:

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EUR/USD Tepid Amid Market Consolidation, USD/CAD Forges Bearish Double Top

EUR/USD AND USD/CAD FORECAST: EUR/USD slides on disappointing economic data from Europe USD/CAD continues to carve out a bearish double-top pattern This article looks at key EUR/USD and USD/CAD’s levels to watch in the coming days

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. . . → Read More: EUR/USD Tepid Amid Market Consolidation, USD/CAD Forges Bearish Double Top

USD Price Forecast: DXY Resistance Re-Test

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Canadian Dollar to Look Past Saudi Arabia Oil Cuts as WTI Fills a 4% Gap Within a Day

Canadian Dollar, USD/CAD, OPEC Cuts? Technical Analysis – Asia-Pacific Briefing: Canadian Dollar weakens despite Saudi Arabia oil production cuts Failure of broader OPEC+ coordination meant WTI filled the gap Slowing global growth may keep oil prices pressured for time being

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S&P 500 at 9-Months Highs as Bulls Assert Dominance but Downside Risks Build

S&P 500 FORECAST: S&P 500 rises at the start of the week, reaching its best levels since August 2022 Technicals remain positive, but caution is warranted The index’s proximity to a key resistance area and its overbought condition may pave the way for a pullback in the near term

Recommended by . . . → Read More: S&P 500 at 9-Months Highs as Bulls Assert Dominance but Downside Risks Build

Crude Oil Price Update: Saudi’s Insist on Production Cuts at Extended OPEC Meeting

Crude Oil (Brent, WTI) News and Analysis Saudis advocate further oil production cuts but fail to win overwhelming support Oil technical levels to note after a gap higher at the open IG client sentiment hints at a bearish continuation despite gap to the upside The analysis in this article makes use of chart patterns . . . → Read More: Crude Oil Price Update: Saudi’s Insist on Production Cuts at Extended OPEC Meeting

US Dollar Falls as Weak Services PMI Data Boosts Case for Fed Pause

ISM SERVICES KEY POINTS: U.S. ISM Services PMI falls to 50.3 in May from 51.9 previously, well below expectations The new orders index declines sharply, the employment indicator dives into contraction territory The U.S. dollar, as measured by the DXY index, slides and erases session gains following disappointing U.S. economic data

. . . → Read More: US Dollar Falls as Weak Services PMI Data Boosts Case for Fed Pause

USD/ZAR: Price Forecast: Rand Funded by Loadshedding Reprieve

RAND ANALYSIS & TALKING POINTS ESKOM optimism gives rand a boost! US ISM non-manufacturing PMI & SA GDP to drive volatility short-term. R19.00/$ looming?

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Receive timely and compelling market commentary from the DailyFX . . . → Read More: USD/ZAR: Price Forecast: Rand Funded by Loadshedding Reprieve

Markets Week Ahead: S&P 500, Gold, US Dollar; US ISM, Euro Area Retail Sales, RBA, Japan Econ Watchers, China Inflation

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Global equity markets rose, led by solid gains in US equities, as markets cheered the passage of a debt ceiling bill that averted a catastrophic US default. Debt negotiations in Washington have been a key . . . → Read More: Markets Week Ahead: S&P 500, Gold, US Dollar; US ISM, Euro Area Retail Sales, RBA, Japan Econ Watchers, China Inflation

OPEC+ Preview: Crude Oil Prices Linger Ahead of Production Guidance

BRENT CRUDE OIL ANALYSIS & TALKING POINTS Russia finding it tough to cut production the rest of OPEC+ seeks higher prices. Light economic week ahead gives places more emphasis on OPEC+. Weekly Brent crude chart may point to higher prices.

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Gold Price Forecast: Dreams of Fresh Record Shattered for Now as Bears Pounce

GOLD PRICE OUTLOOK: Gold prices fail to mount recovery as bond yields resume their rebound Strong U.S. economic data may nudge the Fed to continue hiking rates during the second half of the year, even if policymakers hit the pause button temporarily This article looks at key XAU/USD’s levels to watch in the week . . . → Read More: Gold Price Forecast: Dreams of Fresh Record Shattered for Now as Bears Pounce

Euro Weekly Forecast: EUR/USD Ends Week with a Whimper but a Recovery Remains in Play

EUR/USD PRICE, CHARTS AND ANALYSIS:

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READ MORE: May Jobs Report: NFP Smashes Estimates as US Unemployment Rises to . . . → Read More: Euro Weekly Forecast: EUR/USD Ends Week with a Whimper but a Recovery Remains in Play

British Pound Week Ahead: GBP/USD, EUR/GBP and GBP/JPY Outlooks

GBP/USD Prices, Charts, and Analysis Little domestic economic data or events next to guide Sterling. GBP/USD clients have turned net short.

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The British Pound has had a strong week, making multi-week gains against a range . . . → Read More: British Pound Week Ahead: GBP/USD, EUR/GBP and GBP/JPY Outlooks

Gold Price Recovery Runs Out of Steam as Red-Hot US Jobs Data Boosts Yields

GOLD PRICES FORECAST: Gold prices retreat as Treasury yields charge higher following solid U.S. payrolls data The U.S. economy added 339,000 jobs in May, topping estimates by a wide margin The strong and resilient labor market could nudge the Fed to continue hiking interest rates heading into the summer

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May Jobs Report: NFP Smashes Estimates as US Unemployment Rises to 7-Month High

US NFP AND JOBS REPORT KEY POINTS: The US Added 339,000 Jobs in May, Surpassing the Average Forecast of 190,000 New Payrolls. Aprils Figure Meanwhile Was Revised Higher to 294,000. The Unemployment Rate Rises to 3.7%, a 7-Month High. Average Hourly Earnings Came in at 0.3% MoM with the YoY Print Dropping to . . . → Read More: May Jobs Report: NFP Smashes Estimates as US Unemployment Rises to 7-Month High

US Dollar (DXY) on the Backfoot Ahead of the US Jobs Report (NFP)

US Dollar Price, Chart, and Analysis US debt ceiling agreed and passes to President Biden to sign off. The US jobs market remains hot – next up is the closely followed NFP report.

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The . . . → Read More: US Dollar (DXY) on the Backfoot Ahead of the US Jobs Report (NFP)

USD/JPY Price Forecast: Dollar Decline Provides Respite for the Yen

USD/JPY News and Analysis

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BoJ Governor Ueda in No Hurry to Alter Course

BoJ Governor Kazuo Ueda stressed that the Bank is in no rush to alter the path of monetary policy despite interest rates holding . . . → Read More: USD/JPY Price Forecast: Dollar Decline Provides Respite for the Yen

??Outlook on FTSE 100, DAX 40 and S&P 500 as US government agrees to raise the country’s debt ceiling.

Article written by IG Senior Market Analyst Axel Rudolph

FTSE 100, DAX 40, S&P Analysis and Charts

???FTSE 100 recovers as US avoids a default

??The FTSE 100 is seen bouncing off its two-month low at 4,433 on the back of rallying Asian markets as the US Senate passed the debt ceiling deal which . . . → Read More: ??Outlook on FTSE 100, DAX 40 and S&P 500 as US government agrees to raise the country’s debt ceiling.

GBP/USD Price Forecast: Pound Rally Awaits NFP Confirmation

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Crude Oil Price Jumps on Optimism Ahead of OPEC+ Meeting. Where to for WTI?

Crude Oil, OPEC+, WTI, US Dollar, Economic Data, Treasury Yields – Talking Points Crude oil found firmer footing going into the Friday session after dipping The June OPEC+ meeting could see some action with conflicting views among members The technical picture might be saying something. Will WTI resume rallying?

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Gold Prices Set for Best Week Since Early April, Will NFP Data Take This Away?

Gold, XAU/USD, ISM Data, Technical Analysis – Asia-Pacific Briefing: Gold prices rally on Thursday, set for best week since the beginning of April Significant disappointment in ISM Price Paid data boosted Fed rate cut bets XAU/USD technical bias remains downward due to a Bearish Death Cross

Recommended by Daniel Dubrovsky . . . → Read More: Gold Prices Set for Best Week Since Early April, Will NFP Data Take This Away?

EUR/USD Turns the Tide as USD/JPY Fumbles, USD/CAD Carves Out Double-Top Pattern

EUR/USD TECHNICAL ANALYSIS

EUR/USD regained strength on Thursday and managed to bounce off horizontal support at 1.0640/1.0600 following Wednesday’s steep sell-off. While the euro’s prospects have started to deteriorate in recent days, the bullish case should not be written off just yet, as buyers appear to be returning to the market and seem intent . . . → Read More: EUR/USD Turns the Tide as USD/JPY Fumbles, USD/CAD Carves Out Double-Top Pattern

NFP Preview: Dollar Waning Heading Into US Jobs Report

NFP TALKING POINTS AND ANALYSIS NFP report could play a major role in manipulating Fed Chair Jerome Powell’s decision at the next interest rate announcement. Jobs data could be leaning towards an NFP beat. DXY trading at key inflection point seeking forward guidance.

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Silver Price Update: Silver Claws Back Losses amid Dollar Decline

Silver (XAG/USD) Analysis Fed comments led to a wild swing in interest rate expectations which weakened the dollar Silver technical analysis and key levels to note: 23.30 fulfilling role of support The analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive . . . → Read More: Silver Price Update: Silver Claws Back Losses amid Dollar Decline

US Dollar Sluggish as Poor Manufacturing PMI Strengthens Case for Fed Pause

ISM MANUFACTURING KEY POINTS: Manufacturing activity edges down to 46.9 in May from 47.1 previously, slightly below expectations New orders sink, whereas the employment and production indices offset weakness in other components of the ISM PMI survey U.S. dollar extends losses as disappointing economic data reinforces the case for the Fed to hold . . . → Read More: US Dollar Sluggish as Poor Manufacturing PMI Strengthens Case for Fed Pause

Gold Price Latest: XAU/USD Pushing Higher, Treasury Yields Remain Volatile, Jobs Reports Near

Gold Price Analysis, Price, and Chart Gold is trading on either side of a prior resistance turned support level. ADP, US non-farm payrolls near – increased volatility heading into the weekend?

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Short-dated US Treasury yields . . . → Read More: Gold Price Latest: XAU/USD Pushing Higher, Treasury Yields Remain Volatile, Jobs Reports Near

GBP/USD Price Outlook: Cable Bid after the Fed Signals a “Skip” in June

British Pound (GBP/USD) Analysis Cable rises on the Fed’s increased probability of a “skip” at the June FOMC Major risk events this week: NFP, US debt ceiling fears dissipate GBP/USD technical levels to consider for a bullish continuation The analysis in this article makes use of chart patterns and key support and resistance levels. . . . → Read More: GBP/USD Price Outlook: Cable Bid after the Fed Signals a “Skip” in June

Dow Jones and CAC40 Stabilise While Nasdaq 100 Edges Down????

Article written by IG Chief Market Analyst Chris Beauchamp

Dow Jones, CAC 40, Nasdaq 100 Analysis and Charts

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Dow holds above 200-day MA

?The index saw a rally off the lows of yesterday’s session, defending . . . → Read More: Dow Jones and CAC40 Stabilise While Nasdaq 100 Edges Down????

S&P 500, Nasdaq 100 Drop on Global Growth Woes and Still-Tight US Labor Market?

S&P 500, Nasdaq 100, JOLTS Job Openings, July Fed Hike – Asia-Pacific Briefing: S&P 500, Nasdaq 100 sink for a second day as sentiment deteriorates Global growth woes, signs of a still-tight US labor market were in focus A Rising Wedge is taking shape in the S&P 500 as upside momentum fades

. . . → Read More: S&P 500, Nasdaq 100 Drop on Global Growth Woes and Still-Tight US Labor Market?

EUR/USD in Downward Spiral after Support Break. What Do Technicals Say?

EUR/USD ANALYSIS: EUR/USD plunges on Wednesday, reaching its lowest level since March 17 Softer-than-expected inflation data in several countries in Europe, together with broad-based U.S. dollar strength, weigh on the common currency This article looks at key EURUSD’s technical levels to watch in the coming days

Recommended by Diego Colman . . . → Read More: EUR/USD in Downward Spiral after Support Break. What Do Technicals Say?

Gold Prices Recover After Support Rejection ahead of US Jobs Data. What Now?

GOLD PRICE FORECAST: Gold prices gain after encountering support at the lower limit of a medium-term rising channel Gains are modest as traders remain reluctant to take large directional positions ahead of key U.S. economic data later this week The U.S. labor market report for May will steal the limelight on Friday

. . . → Read More: Gold Prices Recover After Support Rejection ahead of US Jobs Data. What Now?

Bitcoin (BTC/USD) Limps as Ripple (XRP/USD) Eyes Further Gains

BITCOIN, RIPPLE (XRP) KEY POINTS: Bitcoin Prices Struggle as Low Volatility and the DXY Hamper Recovery. Cryptocurrency Exchange Volumes on Course for Lowest Month Since October 2020. Should Recent Speculation Prove True, A Resolution on the SEC/Ripple Case Could See XRP/USD Rally Toward the 0.8000 Mark.

Recommended by Zain Vawda . . . → Read More: Bitcoin (BTC/USD) Limps as Ripple (XRP/USD) Eyes Further Gains

Euro (EUR) Update – German Inflation Turns Lower, EUR/USD Back Below 1.0700

EUR/USD Prices, Charts, and Analysis German inflation moves sharply lower in May. ECB Financial Stability Review warns of a ‘fragile economic outlook.’

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German inflation fell by more than expected in May, easing the pressure on . . . → Read More: Euro (EUR) Update – German Inflation Turns Lower, EUR/USD Back Below 1.0700

Dow Jones, S&P 500 Retreat from Highs as US Debt Deal Alludes to Fiscal Tightening

Dow Jones, S&P 500, US Debt Ceiling Deal, Spending Cuts – Asia-Pacific Briefing: Dow Jones, S&P 500 reverse intraday gains as markets digest debt deal Unofficial estimates point to potential fiscal spending cuts of $1 trillion This could raise the risk and the severity of a recession amid high rates

. . . → Read More: Dow Jones, S&P 500 Retreat from Highs as US Debt Deal Alludes to Fiscal Tightening

Crude Oil Prices in Tailspin amid Demand Worries and OPEC+ Infighting

CRUDE OIL FORECAST: Oil plummets, sinking more than 4% to its lowest level since early May Concerns about the energy market outlook, coupled with OPEC+’s internal strife, weigh on prices This article looks at key WTI technical levels to watch in the coming days

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. . . → Read More: Crude Oil Prices in Tailspin amid Demand Worries and OPEC+ Infighting

EUR/USD Price Outlook: Reprieve for the Euro as USD, Yields ease

EUR/USD News and Analysis

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Persistent US Inflation and Worsening Euro Economic Prospects Weigh on EUR/USD

Ever since the bearish break below 1.0910, EUR/USD price action has been relentless. Aided by shifting US rate expectations, the . . . → Read More: EUR/USD Price Outlook: Reprieve for the Euro as USD, Yields ease

S&P 500 Outlook: Consumer Confidence Falls, Debt-Ceiling Deal Faces Major Test

S&P 500 FORECAST: US Consumer Confidence slides to 102.3 from an upwardly revised reading of 103.7 in April Sentiment data fails to spark volatility as markets remain focused on the U.S. debt ceiling President Biden and House Speaker McCarthy struck an agreement to suspend the debt limit for a couple of years, but several . . . → Read More: S&P 500 Outlook: Consumer Confidence Falls, Debt-Ceiling Deal Faces Major Test

USD/CAD Price Forecast: Acceptance Above 1.3650 Needed for Bullish Continuation

USD/CAD PRICE, CHARTS AND ANALYSIS:

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MOST READ: Gold Price Forecast: 100-Day MA Provides Support as Gold Eyes . . . → Read More: USD/CAD Price Forecast: Acceptance Above 1.3650 Needed for Bullish Continuation

Erdogan Wins Runoff Election as USD/TRY Rises Above Psychological 20.0000 Level

TURKEY RUNOFF ELECTION RESULTS, USD/TRY:

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READ MORE: EUR/USD, GBP/USD Eyeing Recovery on Low Liquidity Monday Following US Debt . . . → Read More: Erdogan Wins Runoff Election as USD/TRY Rises Above Psychological 20.0000 Level

EUR/USD, GBP/USD Eyeing Recovery on Low Liquidity Monday Following US Debt Deal

EUR/USD, GBP/USD PRICE, CHARTS AND ANALYSIS:

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READ MORE: Crude Oil Looks to OPEC+ Meeting for Cues; Is . . . → Read More: EUR/USD, GBP/USD Eyeing Recovery on Low Liquidity Monday Following US Debt Deal

Crude Oil Looks to OPEC+ Meeting for Cues; Is Natural Gas Resuming its Downtrend?

CRUDE OIL, WTI, NATURAL GAS, NG – Outlook: Crude oil is holding above tough support, keeping alive the capitulation view. Natural gas has fallen sharply, but the downside could be cushioned. What are the key levels to watch?

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Understanding the Core Fundamentals of Oil Trading . . . → Read More: Crude Oil Looks to OPEC+ Meeting for Cues; Is Natural Gas Resuming its Downtrend?

US Dollar Poised After Debt Deal Break Through. Will the DXY Index Retreat?

US Dollar, DXY Index, USD, Treasury Yields, Debt Ceiling, Crude Oil – Talking Points The US Dollar might get a jolt this week on a debt debacle resolution Treasury yields remain robust and equity markets have been given a small boost If the need for a haven currency diminishes, where will that leave . . . → Read More: US Dollar Poised After Debt Deal Break Through. Will the DXY Index Retreat?

Japanese Yen After US Debt Deal: USD/JPY, EUR/JPY, GBP/JPY

US Dollar, Euro, British Pound Vs Japanese Yen – Price Action: USD/JPY has risen above key resistance. ?EUR/JPY and GBP/JPY are flirting with major hurdles. What is the outlook for the key yen crosses?

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The Japanese . . . → Read More: Japanese Yen After US Debt Deal: USD/JPY, EUR/JPY, GBP/JPY

Markets Week Ahead: Nasdaq 100, Dow Jones, US Dollar, Gold, Debt Ceiling, NFPs, AI Frenzy

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Global stock market sentiment mostly deteriorated this past week with a few exceptions. On Wall Street the tech-heavy Nasdaq Composite crushed its competition, soaring 2.51% while the blue-chip-oriented Dow Jones sank -1%. Across the Atlantic . . . → Read More: Markets Week Ahead: Nasdaq 100, Dow Jones, US Dollar, Gold, Debt Ceiling, NFPs, AI Frenzy

Euro Weekly Forecast: EUR/USD Recovery Hinges on Debt Ceiling Deal

EUR/USD PRICE, CHARTS AND ANALYSIS:

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Most Read: Debt Ceiling Blues, Part 79. What Happens if the US Defaults?

. . . → Read More: Euro Weekly Forecast: EUR/USD Recovery Hinges on Debt Ceiling Deal

British Pound Week Ahead: UK Rates and US Data Will Drive GBP/USD

GBP/USD Prices, Charts, and Analysis Gilt yields push sharply higher on renewed UK rate hike expectations. IMF does a 180 on UK growth prospects. Little in the way of UK data next week.

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UK headline inflation . . . → Read More: British Pound Week Ahead: UK Rates and US Data Will Drive GBP/USD

EUR/USD Inches Up Despite Stronger US PCE Inflation Numbers

EUR/USD Prices, Charts, and Analysis EUR/USD returned some of the week’s losses on Friday The move was modest though and the bears remain in charge This week’s news of German recession makes the ECB’s balancing act harder

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Get My . . . → Read More: EUR/USD Inches Up Despite Stronger US PCE Inflation Numbers

US Dollar Perks Up While Gold Turns Lower Following Strong Core PCE Data

PCE REPORT KEY POINTS: April U.S. consumer spending surges 0.8%, well above expectations calling for a 0.4% increase Core PCE clocks rises 0.4% on a monthly basis, up 4.7% in the last 12 months, one-tenth of a percent above forecasts in both cases Gold prices turn lower as sticky inflation reinforces arguments for . . . → Read More: US Dollar Perks Up While Gold Turns Lower Following Strong Core PCE Data

Japanese Yen (JPY) Latest: USD/JPY Toying With 140.00 on Supportive US Yields

Japanese Yen Price, Chart, and Analysis The Bank of Japan (BoJ) will continue with ‘large-scale monetary easing’. USD/JPY 140 is under threat.

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The new Governor of the Bank of Japan, Kazuo Ueda, said recently that . . . → Read More: Japanese Yen (JPY) Latest: USD/JPY Toying With 140.00 on Supportive US Yields

Gold Recoups Some Losses, US Debt Ceiling, Inflation In Focus

Gold Price, Analysis, and Charts Gold looks set for a third straight week of falls Stronger Dollar and question marks over further rate rises have weighed A prominent daily-chart uptrend is under threat

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The near-term climate . . . → Read More: Gold Recoups Some Losses, US Debt Ceiling, Inflation In Focus

?? FTSE 100, DAX 40 and S&P 500 Try to Stabilise Despite Ongoing US Debt Ceiling Woes

FTSE 100, DAX 40, and S&P 500 Analysis and Charts

Article written by IG Senior Market Analyst Axel Rudolph

???FTSE 100 remains under pressure amid ongoing US debt ceiling negotiations

??The FTSE 100 has given back around 2.5% by falling on three consecutive days as a possible US default is getting increasingly likely . . . → Read More: ?? FTSE 100, DAX 40 and S&P 500 Try to Stabilise Despite Ongoing US Debt Ceiling Woes

GBP/USD Price Forecast: Cable Bounces from Oversold Territory as UK Retail Sales Recover

GBP/USD PRICE, CHARTS AND ANALYSIS:

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READ MORE: Gold Price Forecast: $1950 Level Holds Key for Bearish Momentum to . . . → Read More: GBP/USD Price Forecast: Cable Bounces from Oversold Territory as UK Retail Sales Recover

Crude Oil Price Retreats on OPEC+ Perspective and a Firm US Dollar. Where to for WTI?

Crude Oil, OPEC+, US GDP, WTI, US Dollar, RBOB, OVX Index – Talking Points Crude oil tumbled going into the Friday session after posting a 3-week high The June OPEC+ meeting could see some action with conflicting views among members The structure of the market could be saying something, Will WTI resume rallying? . . . → Read More: Crude Oil Price Retreats on OPEC+ Perspective and a Firm US Dollar. Where to for WTI?

Copper Price: Is the Red Metal Anticipating a Recession?

Copper Analysis and Chart

Article written by IG Technical Analyst Vincent Boy

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While global markets continue to anticipate a “soft landing” and remain at their highest levels, the price of copper, considered a relevant indicator of . . . → Read More: Copper Price: Is the Red Metal Anticipating a Recession?

GBP/USD Still Pressured Despite Signs of Less Hawkish Fed

GBP/USD Prices, Charts, and Analysis GBP/USD has again failed to hang on to gains The UK unit gained with others following the release of Fed minutes Technically, the Pound has slipped below a medium-term trendline

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The . . . → Read More: GBP/USD Still Pressured Despite Signs of Less Hawkish Fed

SARB Deliver Another 50bps Hike with the Rand Unfazed, USD/ZAR Hits New All-Time High

SARB RATE DECISION AND USD/ZAR OUTLOOK: The South African Rand Experienced Renewed Selling Pressure Despite a 50bps Hike by the South African Reserve Bank (SARB). Food Price Inflation Revised Up Again to 10.8% in 2023. GDP Growth Adjusted Slightly Higher to 0.3% with Power Constraints and Logistical Challenges Cited as the Primary Causes. To . . . → Read More: SARB Deliver Another 50bps Hike with the Rand Unfazed, USD/ZAR Hits New All-Time High

US Dollar (DXY) Latest: A Relentless Grind Higher, Core CPE Ahead

US Dollar (DXY) Price, Chart, and Analysis The US dollar is printing a steady series of short-term higher highs. US T-bill yields balloon higher.

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The ongoing impasse in the US debt ceiling negotiations remains . . . → Read More: US Dollar (DXY) Latest: A Relentless Grind Higher, Core CPE Ahead

Gold Price Forecast: $1950 Level Holds Key for Bearish Momentum to Continue

GOLD PRICE, CHARTS AND ANALYSIS:

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READ MORE: Price Action Setups on Gold (XAU/USD)

Gold (XAU/USD) OUTLOOK, FOMC MINUTES, RISING TREASURY YIELDS

Gold prices faded yesterday as a combination of rising US Treasury Yields and a . . . → Read More: Gold Price Forecast: $1950 Level Holds Key for Bearish Momentum to Continue

Dow and Hang Seng Fall Sharply, but Nasdaq 100 Supported by Nvidia????

Dow, Nasdaq 100, Hang Seng Charts and Analysis

Article by IG Chief Market Analyst Chris Beauchamp

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Dow in full retreat on debt ceiling worries

?The past four days have seen the index slump 900 points, falling . . . → Read More: Dow and Hang Seng Fall Sharply, but Nasdaq 100 Supported by Nvidia????

EUR/USD Outlook: Euro Tumbles as Germany Enters Recession

EUR/USD ANALYSIS German Q1 GDP confirms technical recession over the winter period. US GDP, ECB speakers and debt ceiling updates to drive EUR/USD today. Technical indicators do not rule out further downside for the euro.

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. . . → Read More: EUR/USD Outlook: Euro Tumbles as Germany Enters Recession

Australian Dollar Looking Vulnerable: AUD/USD, AUD/JPY, AUD/CAD Price Action

Australian Dollar Vs US Dollar, Japanese Yen, Canadian Dollar – Price Setups: AUD is looking vulnerable as it tests vital support. ?Key focus is on Australia retail sales and US core PCE data tomorrow. Which way for AUD/USD, AUD/JPY, and AUD/CAD?

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The Fundamentals of . . . → Read More: Australian Dollar Looking Vulnerable: AUD/USD, AUD/JPY, AUD/CAD Price Action

US Dollar Rides High as Debt Debate Continues Amid Fitch Re-Rating. Higher DXY?

US Dollar, Crude Oil, Gold – Talking Points US Dollar found a clear run and resumed strengthening today The debt ceiling issue lingers and the Fed minutes provided some fodder If the debt problem is solved, where will the DXY (USD) index head?

Trade Smarter – Sign . . . → Read More: US Dollar Rides High as Debt Debate Continues Amid Fitch Re-Rating. Higher DXY?

British Pound Shrugs Off Blistering CPI: What’s Next for GBP/USD, EUR/GBP, GBP/JPY?

GBP, British Pound, Euro, Japanese Yen, US Dollar – Outlook: GBP/USD slipped even as inflation moderated less than expected. Chance that GBP’s consolidation could extend a bit further in the near term. What are the signposts to watch in GBP/USD, EUR/GBP, and GBP/JPY?

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How to . . . → Read More: British Pound Shrugs Off Blistering CPI: What’s Next for GBP/USD, EUR/GBP, GBP/JPY?